Moon's economic agenda at risk as spending plan stalls

Seoul

DESPITE his soaring approval ratings, South Korean President Moon Jae-in's fiscal stimulus package has so far gone nowhere in Parliament, underscoring the challenges he faces in enacting his economic agenda without a majority.

His 11.2 trillion won (S$13.6 billion) supplementary budget to create tens of thousands of public-sector jobs was submitted by the government almost three weeks ago but has yet to move past even the initial stage of the legislative process. With the main opposition Liberty Korea Party adamant that the spending is unjustified and two smaller parties opposing the focus on the public payroll rather than private industry, the bill is set to languish unless Mr Moon makes some concessions.